A court in Tokyo has ruled that it is not possible for people to own bitcoin so they cannot seek compensation for the collapse of Mt Gox.
The ruling follows the arrest in Japan of former Mt Gox CEO Mark Karpeles on fraud charges.
Judge Masumi Kurachi said bitcoin did not possess the "tangible qualities" required to be considered owned property under Japanese law.
RBS builds $3bn safety buffer
RBS is raising $3.15 billion for an emergency capital fund to safeguard it against a future financial crisis.
The contingent convertible bonds, which are known as cocos, give banks emergency funds they can access rather than seeking a taxpayer rescue in the event of a crisis.
Canadian bank controls failed
Canada's banking regulator has found that money-laundering controls at the country's banks failed on many occasions, according to the Wall Street Journal.
Seventy-two failures of anti-money laundering controls were logged by the Office of the Superintendent of Financial Institutions (OSFI) an OSFI document released under the Access to Information Act revealed.
Japanese banks make first local currency loans in Myanmar
Bank of Tokyo Mitsubishi UFJ has made a local-currency loan in Myanmar, becoming the first Japanese lender to do so since Myanmar began moving towards democracy in 2011. The bank loaned $729,000 to a joint venture between a Japanese trading house and a local conglomerate. Sumitomo Mitsui Banking Corp is expected to follow suit with a much larger loan to a soft drinks venture in Myanmar within the next few weeks.
RBI to let banks shift, merge or shut branches
The Reserve Bank of India (RBI) is allowing banks greater operational freedom by removing the need for them to seek permission before shifting, merging or closing branches in urban areas.
Banks can now "shift, merge or close all branches except rural branches and sole semi-urban branches at their discretion", the RBI said. In addition, banks no longer need to report the opening of new mobile branches, ATMs or call centres.
Bad loans could force Indian banks to raise capital
Indian banks may have to raise $15.7 billion of capital beyond Basel III requirements to manage loan exposure to debt-laden companies, according to credit agency India Ratings and Research.
Foreign currency cash deposits banned in Nigeria
Nigeria's central bank has barred the country's banks from accepting foreign currency cash deposits into customers' domiciliary accounts.
In a circular released on Wednesday, the central bank also advised those with foreign currencies already deposited in their accounts to withdraw the cash as they will no longer be able to transfer it.
Australian banks experience carnage
Shares in Australian bank ANZ suffered their biggest drop in almost seven years when they resumed trading today after launching a A$3 billion capital raising and revealing weak profits for the third quarter on Thursday.
At one stage the stock fell by as much as 8.5 percent, its biggest fall since November 2008. Commonwealth Bank of Australia and Westpac Banking Corp each lost more than three percent on Thursday while National Australia Bank lost 2.2 percent and the trend continued today.
Subscribe to the Lafferty Daily BriefingSIGN UP
© 1981-2018 Lafferty Group
Toll-free: +44(0) 800 772 3849
T: +44 (0) 203 633 1630
1-6 Yarmouth Place